Interview with Konsolidator’s CEO Claus Finderup Grove

For those unfamiliar with Konsolidator, could you briefly introduce the company, your core offering, and how you position yourselves within the financial consolidation space?

Konsolidator is a pure SaaS company offering a cloud-based software platform specifically designed for financial consolidation. Our mission is to simplify and streamline group reporting processes for small and mid-sized enterprises. We currently focus on two primary geographic markets, Scandinavia and the Iberian Peninsula, where we help finance teams automate their consolidation workflows.

Our business model is mainly subscription-based, generating recurring revenue through license sales. Since the platform is ERP-agnostic, we can integrate with a wide range of financial systems. This flexibility allows for broader adoption, operational scalability, and an easier onboarding process for our clients. Our technology enables companies to minimize manual errors, save time, and ensure accurate, audit-compliant financial reporting.

How does Konsolidator differentiate itself from more traditional consolidation solutions on the market?

Our platform is built around the principle of financial accuracy. Unlike many systems that prioritize management reporting, Konsolidator is designed from an accounting-first perspective—ensuring that all entries are perfectly balanced between debits and credits. This approach provides a level of precision that is often missing in legacy or spreadsheet-based solutions, which is one of the key reasons why auditing firms have adopted our product internally. The trust we’ve earned from finance professionals and auditors is a strong testament to the reliability of our platform.

How are you evolving the product, and what new features have been introduced recently?

We’ve seen a growing demand for integrated analysis and reporting capabilities. In response, we’ve expanded the product by integrating with Power BI and Microsoft Fabric, creating a more comprehensive reporting and budgeting ecosystem.

These upgrades have enabled us to attract larger clients and form strategic partnerships. As a result, our average annual recurring revenue (ARR) per customer has increased significantly, from around DKK 35,000–40,000 historically to approximately DKK 75,000 today.

We’ve also entered partnerships with leading audit firms and recently developed a banking application that supports credit assessment processes. This initiative has the potential to open an entirely new vertical for us.

What does your current market presence look like, and how do you plan to expand going forward?

We are the market leader in Denmark within our segment. While we have not yet achieved the same level of penetration in Sweden and Norway, we’ve recently signed strong partners in both countries and are optimistic about our growth prospects there.

In Spain and Portugal, we were able to establish ourselves thanks to a unique opportunity when a local team from a competing German provider chose to join Konsolidator. Looking ahead, we see continued opportunities across Europe and are also exploring markets in the Middle East, where interest in our type of product is increasing.

What are the primary drivers of your growth, and what financial targets have you set?

Growth is being driven by three key factors:

1. Expanded offering – By enhancing our product features and adjusting our pricing structure, we’ve improved the overall value proposition and broadened our addressable market.
2. Partner ecosystem – We’re seeing increased demand from audit firms and financial service providers who want to adopt, recommend and implement our solution.
3. Banking sector traction – Our banking application is opening the door to a new client base and potentially a new stream of recurring revenue.

Our goal is to reach an ARR of DKK 27–30 million.

Your customer acquisition cost (CAC) has dropped significantly. How did you manage that?

We’ve achieved notable cost savings by outsourcing our digital marketing and shifting focus toward organic growth, referrals, and partner-led acquisition. Additionally, the rise in average ARR per customer has significantly improved our CAC-to-ARR ratio. And we expect this ratio to improve even more in the future.

Where do you see Konsolidator one year from now?

Our focus remains on consolidating our leadership in the Scandinavian and Iberian markets while expanding into new territories. With a strong business model, growing customer base, and proven product-market fit, we believe Konsolidator is positioned for continued growth and increased shareholder value in the years ahead.

Could you highlight three reasons why Konsolidator stands out as an attractive investment today?

1. Undervalued growth company – We’re currently trading below what we believe reflects our long-term potential. With rising ARR and multiple new market opportunities, there’s a strong upside.
2. Robust SaaS-metrics – Despite challenging macro conditions, we’ve maintained high gross margins and continued to grow our subscription base.
3. Scalable international model – With operations in multiple countries and a cloud-native, ERP-agnostic solution, we’re well-positioned for accelerated expansion.